Business banking Products & services Business loans & overdrafts

Business term loans.

Plan for the future with medium-to-long term financing, designed to help you grow your business.

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Benefits.

  • Choose the repayment structure that works best for you.
  • Floating options can be repaid at any time without any early repayment cost. 
  • Fixed options to create more certainty for budgeting.

Floating rate features.

Floating interest rate

You pay a floating interest rate that may increase or decrease in line with the market.

Minimum loan amount

The minimum floating term loan amount is $3,000.

Change your repayments

Adjust repayments or pay lump sums at any time - even repay the whole loan early.

Fixed rate features.

Fixed interest rate

Lock in an interest rate up to 12 months in advance and keep the interest rate locked in for the entire period of your loan.

Minimum loan amounts

The minimum fixed term loan amount is $10,000.

Early repayments

Early termination or lump sum payments are available (subject to break costs), with minimum prepayment amounts of $10,000.

Repayments.

Whether you choose a floating rate or a fixed rate, you have three repayment options:

  1. Table loan - Spread your repayments evenly over the term of the loan.
  2. Reducing loan - Gradually reduce your repayments over the loan.
  3. Interest only - Repay only the interest portion of the loan until the interest-only period ends.

Other details.

  • Loan maximums will depend on your security1 and ability to service the debt
  • Interest is calculated on the daily outstanding balance and charged either fortnightly or monthly
  • Repayments are automatically deducted from your nominated transaction account
  • An establishment fee up to 1% of the facility limit or loan amount applies, with a minimum charge from $400.

Apply for a business term loan.

Things you should know.

1 A number of security options are available including residential property, commercial property or business assets.

Terms, conditions, fees and charges apply to Westpac products and services. See the Business Transaction and Service Fees Brochure for details.

Lending criteria applies to all applications for finance.

Business Lending products are only available for business and/or investment purposes and not for personal, domestic or household purposes.